As it streamlines its home lending operations, Capital One Financial Corp. is reducing the size of its staff at a Delaware location.
The McLean, Virginia-based
company said in a written statement that it is eliminating its mortgage operations in Wilmington.
“We are transforming our mortgage operations with a focus on efficiency and simplifying our organization,” the statement said.
As a result, a hundred associates were given 60 days’ notice on Wednesday.
Impacted employees are being
encouraged to apply for other roles for which they are qualified, Capital One said.
Capital One noted that “a couple hundred positions” are currently open in Wilmington. In addition, hundreds more jobs are open across the company’s footprint.
Those who don’t find another position at the financial services firm
will be eligible to receive a severance package that includes retraining assistance and outplacement services.
“It’s a difficult decision and we’re committed to helping impacted associates through the transition,” the statement said.
The company
explained that it is still committed to home lending, and a team of mortgage sales associates remains in Wilmington.
